Oil prices could fall into the low $20s for the global market to rebalance, as Rystad Energy expects an increase in global supplies in the next three months. OPEC+ countries are locked and loaded to add between 1.5 million and 2.5 million barrels per day (bpd), which Rystad estimates is their realistic short-term capability. Illustration. …
Oil price war could lead to massive wave of bankruptcies in oilfield services, Rystad says
The total capital and operational expenditure of exploration and production companies (E&Ps) is now likely to be cut by $100 billion in 2020 and another $150 billion in 2021 if oil prices remain at a $30 level, a Rystad Energy impact analysis revealed – a development that will heavily impact service company revenues, driving some …
The Oil Shock That Never Was
by  Bloomberg Grant Smith 3 years ago, influential figures in the oil industry were sounding a clear warning. (Bloomberg) -- Three years ago, influential figures in the oil industry were sounding a clear warning: prices were too low, investment was collapsing and by the end of the decade the world would face a shortage. …
Big Oil Tells Big Tech Being Arrogant Will Backfire
by  Bloomberg Kelly Gilblom | One of the biggest oil bosses in the world has a message for hotshot young tech stars. (Bloomberg) -- One of the biggest oil bosses in the world has a message for hotshot young tech stars: trust me, being arrogant won’t pay off. Royal Dutch Shell Plc Chief Executive …
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Indies: What Would Africa Do Without Them? Â
By Toyin Akinosho The concept of local content grew out of the concern that the oil industry operates as an enclave sector in most hydrocarbon resourced African economies. But in those countries where the oil companies serve as part of the industrial pivot, there’s a good chance that the main actors are independents, not …
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If You are in Oil and Gas, You Should Be Worried
The world of fossil fuel is about to change. It is changing uniquely. The world will demand far more energy than it is currently doing, while the energy mix changes. There are people who don’t believe that the transition is happening.Concerns have risen around prospects of global warming. The Paris Climate Agreement aims to …
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Indies: What Would Africa Do Without Them?
By Toyin Akinosho The concept of local content grew out of the concern that the oil industry operates as an enclave sector in most hydrocarbon resourced African economies. But in those countries where the oil companies serve as part of the industrial pivot, there’s a good chance that the main actors are independents, …
Continue reading "Indies: What Would Africa Do Without Them?"
DANGOTE REFINERY: NIGER DELTA TYPE MILITANCY LOADING AT LEKKI… A REPORTER’S PERSPECTIVE
By Chris Paul Otaigbe The ongoing construction of the Dangote Refinery is proposed to relieve Nigeria of the perennial issue of Fuel scarcity and Fuel subsidy. It is, therefore, supposed to be a thing of joy to the country at large and the surrounding community of its proposed operations. The Nigerian economy has …
FUEL PRICE #NIGERIANS DESERVE DISCOUNT… NIGERIANS SHOULD PAY FAR LESS FOR FUEL
BY CHRIS PAUL OTAIGBE The issue of Fuel Subsidy and Fuel Pricing has been a recurring decimal on the national conversation of Nigeria. Many cannot understand why, with four Refineries, the Africa’s largest Oil Producer cannot refine its own Petroleum Products. To reduce the heat of the resulting tension and crisis in the polity, NNPC, …
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If the NNPC Had Implemented the Refinery Revamp The Way I Planned
By Ibe Kachikwu Nigeria’s Minister of State for Petroleum Resources I wasn’t sure I could make this event, I had three different events for the day, one in Russia, another in Equatorial Guinea and one here. Eventually I had to call my colleague in Russia to say it’s so important that I should be …
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